LGS 200 Study Guide - Midterm Guide: Life Insurance, Specific Performance, Liquidated Damages
9 May 2017
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Example: mortgage signed between brian and wells fargo. Wells fargo (assignor) takes the mortgage and assigns it to bank of america (assignee). Wells fargo now steps out of the situation and is no longer involved. the electrician. The builder is ultimately responsible for everything working. build him a house. Brian agrees to pay ,000 to the builder to: third party beneficiary contract. Brian takes out a life insurance policy with. State farm for ,000 and agrees to pay state farm every month. Brian electricity doesn"t work, brian sues the builder and the builder can then sue won"t ever benefit from the life insurance policy because he has to die. Therefore, his family will benefit and are called beneficiaries intended beneficiary. If state farm does not pay after brian"s death then they are. Example: there is a large amount of land behind brian"s house and a contractor wants to develop the land.
